Civic Intelligence

Pacific Ocean Energy Trust

990 • Fiscal year 2018 • EIN 26-4646584

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 13, 2019

Organization ProfilePACIFICOCEANENERGY.ORG
240 N Broadway No 128Portland, OR 97227-1881

(503) 524-5621

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.05x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

86th percentile

0.15x

Higher debt load relative to revenue than 86% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

4th percentile

-138%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

98th percentile

$95,833

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 69.9% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

16th percentile

-28%

Faster asset growth than 16% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

4th percentile

-78%

Faster revenue growth than 4% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$439,630

Down $170,541 (-28%) from 2017

Net Assets

Down

$418,415

Down $189,663 (-31%) from 2017

Liabilities

Up

$21,215

Up $19,122 (+914%) from 2017

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin4th percentile

Revenue

Down

$137,016

Down $473,686 (-78%) from 2017

Expenses

Up

$326,679

Up $302,577 (+1255%) from 2017

Net Income

Down

-$189,663

Down $776,263 (-132%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2017: $610,171Liabilities 2017: $2,093Net Assets 2017: $608,0782017Assets 2018: $439,630Liabilities 2018: $21,215Net Assets 2018: $418,4152018Assets 2019: $390,298Liabilities 2019: $27,733Net Assets 2019: $362,5652019Assets 2020: $255,338Liabilities 2020: $67,907Net Assets 2020: $187,4312020Assets 2021: $411,631Liabilities 2021: $277,266Net Assets 2021: $134,3652021Assets 2022: $453,113Liabilities 2022: $346,084Net Assets 2022: $107,0292022Assets 2023: $914,005Liabilities 2023: $939,191Net Assets 2023: -$25,1862023Assets 2024: $1,037,995Liabilities 2024: $1,008,597Net Assets 2024: $29,3982024

Highlighted filing

2018

Assets$439,630
Liabilities$21,215
Net Assets$418,415
Open 2018 Filing

Operations Trend

Revenue Growth4th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $610,702Expenses 2017: $24,102Net Income 2017: $586,6002017Revenue 2018: $137,016Expenses 2018: $326,679Net Income 2018: -$189,6632018Revenue 2019: $317,628Expenses 2019: $374,221Net Income 2019: -$56,5932019Revenue 2020: $491,242Expenses 2020: $663,843Net Income 2020: -$172,6012020Revenue 2021: $1,138,682Expenses 2021: $1,191,750Net Income 2021: -$53,0682021Revenue 2022: $2,873,609Expenses 2022: $2,900,945Net Income 2022: -$27,3362022Revenue 2023: $2,250,515Expenses 2023: $2,382,730Net Income 2023: -$132,2152023Revenue 2024: $3,522,722Expenses 2024: $3,468,138Net Income 2024: $54,5842024

Highlighted filing

2018

Revenue$137,016
Expenses$326,679
Net Income-$189,663
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 13, 2019
Return Version
2018v3.1
Gross Receipts
$137,016
Mission and Program Overview

Mission

The mission of the organization is to promote and support responsible development of ocean renewable energy in the pacific region through education, outreach and research.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$610,074$439,630▼ $170,444
Cash and Non-Interest-Bearing Accounts$97$0▼ $97
Total Assets$610,171$439,630▼ $170,541
Liabilities
Other Liabilities$0$14,291▲ $14,291
Accounts Payable and Accrued Expenses$2,093$6,924▲ $4,831
Total Liabilities$2,093$21,215▲ $19,122
Net Assets / Fund Balance
Unrestricted Net Assets$608,078$418,415▼ $189,663
Total Net Assets Fund Balance$608,078$418,415▼ $189,663
Total Liabilities and Net Assets / Fund Balance$610,171$439,630▼ $170,541
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jason BuschSec/treas/exec DirectorFT$95,833$95,833
Stephanie McclellanBoard Member-$20,000$20,000

Board Members and Trustees

NameTitle
Kevin BanisterPresident
Justin KlureVice President
Dan JacomsenBoard Member
Jim LanardBoard Member
Mike OlsenBoard Member
REBECCA O'NEILBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$137,016
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-189,663
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$182,492
Other Expenses$144,187
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$115,833--$115,833
Other Salaries and Wages$66,659--$66,659
Occupancy$5,677--$5,677
Fees for Services Accounting$2,794--$2,794
Other Expenses$1,125--$1,125
Office Expenses$834--$834
Fees for Services Other$826--$826
Travel$111--$111
Total Functional Expenses$326,679$0$0$326,679
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Payroll$7,746
Accrued Expenses$6,545
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization have individual and business members who pay dues.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed and approved by the executive director. A copy of the approved form 990 is provided to all board members prior to filing.”

Form 990, Part VI, Section B, Line 12C

“During board meetings, when a project is considered or a discussion begins that could involve one of the board member's companies or their involvement, the person(s) is asked to leave and the discussion takes place in a "closed door meeting". In addition, when projects come up and a rfp is released, it is carefully monitored to make sure that a board member does not have an unfair advantage and has to bid as everyone else.”

Form 990, Part VI, Section B, Line 15A

“The organization's attorney counsel and board members researched similar non-profit organizations for salary comparisons to determine comparable data as baseline salary parameter and used that as baseline range to determine salary in accordance to experience.”

Form 990, Part VI, Section C, Line 19

“Upon request and through the organization's website.”

Filing and Contact Details

Filer

Filer Name
Pacific Ocean Energy Trust
EIN
26-4646584
Phone
5035245621
Address
240 N BROADWAY NO 128, PORTLAND, OR 97227-1881

Signing Officer

Name
Jason Busch
Title
Executive Director
Phone
5035245621
Signed
2019-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Busch
Formed
2009
Legal Domicile
Or
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
0

Preparer

Firm
Hoffman Stewart & Schmidt Pc
Address
3 CENTERPOINTE DRIVE SUITE 300, LAKE OSWEGO, OR 97035-8663
Preparer
George H Hughes
Phone
5032205900
Raw XML Appendix390 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt2SEC/TREAS/EXEC DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAVE INDIVIDUAL AND BUSINESS MEMBERS WHO PAY DUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE DIRECTOR. A COPY OF THE APPROVED FORM 990 IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DURING BOARD MEETINGS, WHEN A PROJECT IS CONSIDERED OR A DISCUSSION BEGINS THAT COULD INVOLVE ONE OF THE BOARD MEMBER'S COMPANIES OR THEIR INVOLVEMENT, THE PERSON(S) IS ASKED TO LEAVE AND THE DISCUSSION TAKES PLACE IN A "CLOSED DOOR MEETING". IN ADDITION, WHEN PROJECTS COME UP AND A RFP IS RELEASED, IT IS CAREFULLY MONITORED TO MAKE SURE THAT A BOARD MEMBER DOES NOT HAVE AN UNFAIR ADVANTAGE AND HAS TO BID AS EVERYONE ELSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S ATTORNEY COUNSEL AND BOARD MEMBERS RESEARCHED SIMILAR NON-PROFIT ORGANIZATIONS FOR SALARY COMPARISONS TO DETERMINE COMPARABLE DATA AS BASELINE SALARY PARAMETER AND USED THAT AS BASELINE RANGE TO DETERMINE SALARY IN ACCORDANCE TO EXPERIENCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST AND THROUGH THE ORGANIZATION'S WEBSITE.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/PhoneNum05035245621
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-13
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ReturnHeader/Filer/PhoneNum05035245621
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.95.39.225
ReturnHeader/FilingSecurityInformation/IPDt02019-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PS
ReturnHeader/FilingSecurityInformation/IPTm016:42:00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0930743240
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOFFMAN STEWART & SCHMIDT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 CENTERPOINTE DRIVE SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKE OSWEGO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0970358663
ReturnHeader/PreparerPersonGrp/PhoneNum05032205900
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GEORGE H HUGHES
ReturnHeader/ReturnTs02019-11-15T14:16:09-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$439,630
Liabilities
$21,215
Net assets
$418,415
Revenue
$137,016
Expenses
$326,679
Net income
-$189,663
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$1.01$0.03$3.52$3.47$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.91$0.94$0.03$2.25$2.38$0.13
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.35$0.11$2.87$2.90$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.28$0.13$1.14$1.19$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.07$0.19$0.49$0.66$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.03$0.36$0.32$0.37$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.44$0.02$0.42$0.14$0.33$0.19
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.61$0.02$0.59